Bite Out of Apple Doesn't Hurt Broad Market or Economy

Massive paper losses in world's most valuable stock doesn't pack the punch of the credit crisis of 2008.

So, the stock market value of Apple has shrunk from its peak by a sum roughly equal to the gross domestic product of Israel.

Moreover, the decline in Apple's (ticker: AAPL) market capitalization since its stock peaked at $705 a share, to Thursday's close of $450.50, exceeds the $142 billion loss from Fannie Mae and Freddie Mac, the worst financial crack-up in history. That's according to a dispatch on Zero Hedge passed along by Ken Woods, head of Asset Preservation Advisors, an Atlanta-based asset manager. The collapse of...